OYO Hotels & Homes, the world’s 6th largest chain of hotels, homes, and living spaces – has announced that it has agreed to acquire Amsterdam-based @Leisure Group.
The later is a leading vacation rental company in Europe and manages holiday homes, holiday parks, and holiday apartments. OYO will acquire @Leisure from Axel Springer, the media and technology company.
@Leisure Group, through its Belvilla, DanCenter, and Danland brands, offers more than 30,000-fully managed holiday homes across 13 countries in Europe and through its Traum-Ferienwohnungen brand, offers a subscription-based home management service with over 85,000 homes across 50 countries. This represents a total inventory of 300,000 plus rooms. @Leisure Group has the unique ability to offer varied collections of managed homes across Europe to customers from across the world. The acquisition helps OYO move a step closer in realizing its vision of becoming a global real estate brand while maintaining leadership in the hospitality industry.
Commenting on the acquisition, OYO’s Global Chief Strategy Officer, Maninder Gulati said, “I would like to commend @Leisure Group’s team for the incredible work they have done to bring wonderful and memorable living experiences to travelers around the world by offering beautiful holiday homes, cottages and holiday parks, in 300+ cities across Europe stretching all the way from Kokelv, Norway to Zahara de los Atunes, Spain. With @Leisure Group, its team and capabilities, we see OYO further its mission of creating quality living experiences for everyday travellers.”
Tobias Wann, CEO, @Leisure Group, will join OYO’s leadership group as CEO, Vacation Homes, OYO Global, and will work with me to turn OYO’s home business into a global by-word for vacation and urban home rentals.”
Commenting on the acquisition, Ritesh Agarwal, Founder & Group CEO, OYO added, “We see vacation homes as a unique opportunity with 115,000 units of homes now getting added to our already growing count of beautiful homes and we are excited to continue maintaining our global industry leadership. Our focus, however, will remain to be a beloved consumer brand that has the ability to create a perfect space in every place. The @Leisure Group is a great partner and we are excited to broad base their offerings.”
As the world’s fastest growing chain of hotels and homes, OYO’s full stack fulfillment led model enables it to deliver efficiencies across supply acquisition management, transformation, operations, revenue management, and distribution through both offline and online channels.